The Elektronika na Presnya shopping center in Moscow may be demolished for the construction of housing or commercial real estate

The outdated Elektronika na Presnya shopping center on Zvenigorodskoye Shosse in Moscow, owned by businessman Vasily Boyko-Veliky, may be demolished for the construction of housing or commercial real estate. This land was leased to the developer Larus Capital. Experts believe that this is an interim deal: the site can become the property of the developer after receiving permission from the mayor’s office to develop the site.

In early November, Specialized Developer Dekabrsky LLC leased 1.9 hectares for ten years under the Electronics on Presnya shopping center (total area 12 thousand sq. m) on Zvenigorodskoe Highway in the center of Moscow, found “Kommersant” in the extract from EGRN. The owner of the site remains JSC ARZ-3, the owner of which was named by the media as the founder of the agricultural holding “Russian Milk” and the company “Your Financial Trustee” Vasily Boyko-Veliky. In October of this year, he was sentenced to six and a half years in prison in the case of embezzlement at Credit Express Bank, Interfax reported. The e-mail indicated on the shopping center website did not respond to Kommersant’s request. The daughter of a businessman, Anna Boyko, and part-time deputy general director of Russian Milk, declined to comment.

Specialized Developer Dekabrsky LLC, in turn, belongs to Olga Nemkina (50%), the remaining share belongs to Vladimir and Konstantin Ostroukhov and Andrey Strenaluk, as indicated in SPARK. Messrs. Ostroukhov and Strenaluk are also the founders of the developer Larus Capital, which built the Timiryazev Park and Vitality complexes in Moscow. According to its own data, the developer’s portfolio includes more than 200 thousand square meters. m of sold objects and another 125 thousand sq. m. m – in the process of construction. Larus Capital did not respond to Kommersant’s request.

The founder of Best-Novostroy, Irina Dobrokhotova, does not rule out that the structures of Vasily Boyko-Veliky and Larus Capital may jointly develop the territory where the Elektroniki na Presnya shopping center is currently located. She believes that the owner of the site will enter into the partnership with land, and Larus Capital will lead the administrative and construction processes. In this case, the owner of the land will receive part of the profit from the sale of the project or the finished premises, notes partner Ricci | M&A Petr Vinogradov.

Dmitry Shelkovsky, head of land assets and development of the capital markets and investment department of IBC Real Estate, on the contrary, believes that, taking into account the current status of Mr. Boyko-Veliky, partnership in this case seems unlikely. Apparently, he continues, we can talk about a market transaction with preservation of cash flow for the seller until the receipt of construction permits and closing of the transaction.

On the site of the shopping center on Zvenigorodskoye Highway, a residential complex with a total area of ​​60–70 thousand square meters can be built. m, says Timur Ryvkin, director of the Nikoliers land development department. According to his calculations, the cost of construction of such a volume will be 10–12 billion rubles, and the proceeds from the sale of apartments will be 35–40 billion rubles. From the point of view of payback and return on investment, it is always more profitable for the developer to build housing, but for city authorities this is not a very interesting story, notes CMWP partner Konstantin Lebedev. In his opinion, it is possible to build a multifunctional complex of 40–60 thousand square meters on the territory of Elektronika na Presnya. m, investments in which could amount to 7–11 billion rubles.

Since the spring of 2022, this site has been within the boundaries of the integrated territory development project (CTD), and the prospect of its development directly depends on the ability of the new tenant to obtain optimal technical and economic indicators from the mayor’s office, says Dmitry Shelkovsky. The Moscow authorities are actively implementing the CRT program. According to them, the program already includes 188 territories with a total area of ​​almost 2.45 thousand hectares with an urban planning potential of 35 million square meters. m, total investments in which will reach 8 trillion rubles.

Daria Andrianova